Author/Authors :
UYAR, Aydın Yalova Üniversitesi - Yalova Meslek Yüksek Okulu, Turkey , UZUNER, Mustafa Talha Yalova Üniversitesi - Yalova Meslek Yüksek Okulu, Turkey
Title Of Article :
WEAK EFFICIENCY ON THE TURKISH GOLD MARKET BY USING RUN TEST APPLICATION
Abstract :
The run test can be used to decide if a data set is from a random prosess. A run is defined as a series of increasing values or a series of decreasing values. In the Turkish finance literature, run test has been examined by a number of studies.However, it has not been came across that any study is to apply run test to Turkish Gold Market. Therefore, this paper targets to test weak form efficiency of Turkish Gold Market by using run test. In Turkey, Gold Market is divided into three sub markets that are Cumhuriyet Gold Market, Reşat Gold Market and Gold Bullion Markets. The results prove that those sub gold markets are not weak form efficiency in Turkey.
NaturalLanguageKeyword :
Run Test , Random Walk Hypothesis , Gold Market , Weak Form Efficiency
JournalTitle :
Journal Of Financial Researches and Studies
